39,880 Shares in Block, Inc. (NYSE:SQ) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new stake in Block, Inc. (NYSE:SQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 39,880 shares of the technology company’s stock, valued at approximately $2,572,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Block during the first quarter valued at approximately $28,000. YHB Investment Advisors Inc. bought a new position in Block in the 1st quarter valued at $33,000. Vima LLC acquired a new stake in shares of Block in the 4th quarter valued at $34,000. LRI Investments LLC acquired a new stake in Block in the first quarter worth about $34,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Block during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SQ shares. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 target price on shares of Block in a research report on Friday, August 2nd. The Goldman Sachs Group restated a “buy” rating and set a $80.00 target price on shares of Block in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft upped their price target on Block from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets increased their price target on shares of Block from $92.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Susquehanna restated a “positive” rating and set a $100.00 price objective on shares of Block in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average price target of $87.34.

Block Stock Performance

Shares of NYSE SQ opened at $66.97 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50 day moving average price of $63.88 and a 200 day moving average price of $68.66. The stock has a market capitalization of $41.23 billion, a PE ratio of 86.98, a price-to-earnings-growth ratio of 1.18 and a beta of 2.49. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts predict that Block, Inc. will post 1.72 earnings per share for the current fiscal year.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 1,889 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $121,594.93. Following the sale, the insider now owns 590,761 shares in the company, valued at $38,027,285.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Block news, CFO Amrita Ahuja sold 5,277 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.13, for a total value of $338,414.01. Following the transaction, the chief financial officer now directly owns 274,410 shares in the company, valued at $17,597,913.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Grassadonia sold 1,889 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the sale, the insider now owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,179 shares of company stock worth $1,833,962. Insiders own 10.49% of the company’s stock.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.